Vertical SaaS

Software with real demand and massive potential

We launch vertical SaaS companies because they are the best and most vital companies we can build.

About SaaS

Why Vertical SaaS?

Vertical SaaS businesses are the best businesses an aspiring entrepreneur could start. They are risk-optimized, offering huge upside with a protected downside. They follow identifiable and replicable pathways to success. We know because we’ve used this playbook to build some of the most successful vertical SaaS companies in recent memory. If you want to build the next one with us, apply to our Founder Program.

Demonstrated Need
Market Potential
Risk Optimization
Our Research Process

Identifying multi-billion dollar vertical opportunities

Our team of private equity, venture capital and management consulting veterans thoroughly diligences every opportunity, helping to ensure the business has the potential to achieve venture-scale returns.

Phase
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Phase
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Phase
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Phase
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Initial screen

We review thousands of vertical opportunities annually, selecting ~10% for further consideration.

Deeper  screen

Over 100+ hours are spent speaking to customers and industry experts.

Intensive diligence

Our experienced investment committee approves each diligence.

Final approval

Only $1B+ opportunities are given final approval.

Our investing experience

Our team of seasoned investing professionals identifies venture-scale opportunities and ensures our founders attack them using time-tested measurement and reporting criteria.

Openview logoNMC logoProvidence logoApax logoIconiq logoChan Zuckerberg Initiative logoYork Capital logo8vc logo
Growth

The path to exponential growth

While they initially target a niche industry, vertical SaaS companies have the potential to grow into massive businesses with exceptionally low churn, high net retention, and the best margins in software.

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Win your initial market

Clear product/market fit allows our companies to eat into the market share of clunky, legacy competitors and build a business with massive ARR and best-in-class net retention rates.

02
Extend through the industry ecosystem

By reaching their customers’ customers and/or suppliers, moving into adjacent verticals, embedding fintech products, and layering in AI tools, our companies become business critical platforms on which whole industry ecosystems rely.

Meet the generational companies in vertical SaaS

Veeva logo
Industry: Life Sciences
IPO: 2013
Market Cap: $26.7B
Procore logo
Industry: Construction
IPO: 2021
Market Cap: $9B
toast logo
Industry: Restaurants
IPO: 2021
Market Cap: $10B
Ncino logo
Industry: Banking
IPO: 2020
Market Cap: $3.2B
Service Titan Logo
Industry: Field Services
Founded: 2013
Valuation: $9.5B
Benchling Logo
Industry: Biology Labs
Founded: 2012
Valuation: $4B
Tekion Logo
Industry: Automotive Dealers
Founded: 2016
Valuation: $3.5B
Cedar Logo
Industry: Hospitals
Founded: 2016
Valuation: $3.2B
Convoy Logo
Industry: Shipping
Founded: 2015
Valuation: $2.75B
Uptake Logo
Industry: Heavy Industry
Founded: 2014
Valuation: $2.3B
Aldeade logo
Industry: Physicians
Founded: 2014
Valuation: $2.1B
Tebra logo
Industry: Medical Practice
Founded: 2012
Valuation: $2.1B
Alloy logo
Industry: Banking
Founded: 2015
Valuation: $2B
Athelas logo
Industry: Medical Practice
Founded: 2016
Valuation: $2B
Built Logo
Industry: Construction
Founded: 2014
Valuation: $2B
Keep Trucking Logo
Industry: Trucking
Founded: 2013
Valuation: $2B
Olive Logo
Industry: Hospitals
Founded: 2012
Valuation: $2B
Qualia Logo
Industry: Real Estate
Founded: 2015
Valuation: $1B
Dragos logo
Industry: Industrial
Founded: 2012
Valuation: $1.7B
Dutchie Logo
Industry: Cannabis
Founded: 2017
Valuation: $1.7B
*All references to market cap are as of March 2023
Perspectives

The leading expert on vertical SaaS

Our entire focus is on vertical SaaS businesses and what makes them successful. We intimately understand what it takes to build these companies, and are excited to share our insights with you.